Canadian Listed Company Renames to Sol Strategy Increases Holdings in 10000 SOL Shares with Price Surging Over Tenfold
The Canadian investment firm formerly known as Cypherpunk Holdings has recently rebranded to “Sol Strategies,” with a development strategy focused on investing in SOL and becoming a Solana validator node. Since October, its stock price has significantly surged.
Increasing SOL Holdings, HODL Stock Hits New Highs
Sol Strategies (stock code HODL) reached a record high of $2.32 on the 29th, representing an increase of 809% in October. Though it closed at $1.39 on the 30th, it has still seen a rise of 445% since the beginning of October. Year-to-date, it has achieved an increase of 1,163.64%.
Sol Strategies Year-to-Date Chart
Actively Transitioning to SOL Node Operator
Based in Toronto, Sol Strategies officially changed its name on September 12, signaling a future focus on the development of the Solana ecosystem. The company is listed on the Canadian Securities Exchange under the stock code HODL, and OTC under the code CYFRF. Its investment in SOL began in June this year, acquiring approximately $1 million worth of SOL at an average price of $163.11. By July, it increased its holdings to 63,000 SOL and announced on the 29th that it now holds 130,000 SOL. In contrast, its previous primary investment target, BTC, has significantly decreased from 166.20 BTC in July to 23.168 BTC.
Following the rebranding, Sol Strategies quickly expanded its Solana operations, having staked 236,270 SOL through validator nodes, generating 1,430 SOL in revenue (approximately $242,000) since June, most of which will be reinvested to acquire more SOL. Sol Strategies has also partnered with Coinbase Custody to ensure that its SOL holdings utilize institutional-grade custodial solutions, and plans to compete with mainstream institutions like Galaxy in becoming a top Solana validator.
We are excited to announce that Cypherpunk Holdings has rebranded to Sol Strategies as part of its strategic shift to focus on investing in @solana. Sol Strategies aims to be a leader investing in the Solana ecosystem by generating revenue through staking rewards and strategic… pic.twitter.com/1eCyCBFVWI — Sol Strategies (CSE: HODL | OTC: CYFRF) (@solstrategies_) September 12, 2024
Sol Strategies Secures $10 Million Credit
On the 22nd of this month, Sol Strategies obtained a credit line of 10 million Canadian dollars through director Antanas Guoga, which has led to a significant rise in its stock price. In a recent interview, CEO Lia Wald indicated that the company aims to continue investing in Solana projects and earn revenue through staking, while also providing regulated investors with the opportunity to indirectly invest in the Solana ecosystem. She believes that the market will take notice of their investment strategy, with stock premiums resulting naturally from it.
Lia Wald stated in a press release:
“Reallocating assets from Bitcoin to Solana is a strategic decision. While Bitcoin remains the foundation of digital assets, Solana’s growth trajectory and innovative capabilities can lead blockchain infrastructure into the next phase.”
